Here is how the scam works: You will receive a text message telling you your Venmo account is about to be charged. If you want to cancel the withdrawal, you need to log on and decline it. The text message allows you to log on with any phone number and password. You can have any password, it will just get to the point where you are asked to verify who you are by entering your bank card number and other personal information.

If you're thinking that you could never be fooled by this scam keep in mind the scam artists use the same colors and fonts as the Venmo App. If you get a concerning text do NOT the links in the text. Instead, use your Venmo app or use the internet site.

If you did enter your information following strange links after receiving a text contact your bank ASAP.